February 9, 2023 – Consumer preferences regarding financial products and the institutions that deliver them are changing. Rate shoppers are being replaced by Amazon shoppers who value speed and convenience over price. Consumer lenders must update and upgrade their customer experience and meet consumer expectations to remain competitive in a market growing crowded with new cloud-native entrants free of legacy tech debt.
This Impact Report focuses on the loan origination process and steps to improve it to deliver superior lending customer experiences. It is based on 26 executives’ responses to an Aite-Novarica Group survey of U.S. consumer lenders fielded in Q3 2022 and a study of 2,006 U.S. consumers’ financial services preferences that Aite-Novarica Group conducted in Q3 and Q4 2022.
Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report and the corresponding charts.
This report mentions ACI Worldwide, Alkami Technologies, Alloy, Apiture, Blend, Braviant, Cincom Systems, CoreSite, CSI, CyrusOne, Deep Labs, Digital Realty, DocuSign, Early Warning Services, Enigma, Episode Six, Equinix, Experian, Experian, FICO, Finacle Payments, Finastra, Finicity, FIS Global, Fiserv, Global Payments Inc, Hyland Software, Innovis, Jack Henry & Associates, Jumio, LexisNexis Risk Solutions, MX, nCino, NICE Actimize, Ninja Holdings, NTT DATA Corporation, Onfido, OpenText, OppFi, Oracle, Origence, arc OS, Plaid, Q2 Holdings, Socure, Sopra Banking Software, TeleSign, Temenos, Trulioo, Veriff, Wipro, Yapily, Yodlee, and Zest AI.